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Shams to sign 31.1M Riyadh hotel lease
Al-Mashrooeat Al-Siyaha Company "Shams" has signed a leasing investment contract with Nukhba Al-Malaqa Hotel Management Company to operate a 17-story hotel in the Media District of Riyadh for a period of 10 years, with a total value of 31.1 million SAR. The contract will commence on January 1, 2027, with a grace period from October 15, 2026, until the end of the year, and includes leasing the hotel along with all its furnishings. The company expects that this contract will positively reflect on its financial results starting from the first quarter of 2027, as part of its expansion strategy in the hospitality sector to achieve revenue growth and support Saudi Arabia's Vision 2030 for tourism.
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